Aussie Ltd acquired 100% of Sing Sing Ltd (Sing Sing) on 1 July 20X0. The balance sheet of Sing Sing on that date was as follows: Balance sheet at 1 July 20X0 S$ S$ Machinery at cost 280,000 Share capital 200,000 Investment property 200,000 General Reserve 100,000 Receivables 50,000 Retained earnings 300,000 Cash 70,000 600,000 600,000 The balance sheet of Sing Sing as at is as follows: Balance Sheet as at 30 June 20X1 S$ S$ Machinery- carrying value 150,000 Share capital 200,000 Investment property 200,000 General Reserve 100,000 Receivables 250,000 Retained earnings 500,000 Cash 300,000 Accounts payable 85,000 Income tax payable 15,000 900,000 900,000 Relevant exchange rates are as follows: A$ S$ 1 July 20X0 1.00 = 1.25 30 June 20X1 1.00 = 1.28 Average 20X0-X1 1.00 = 1.18 If the functional currency of Sing Sing is Singapore dollars and the presentation currency is Australian dollars the total assets of S$900,000 would translate into Australian dollars as: Select one: a. $709 688 b. $1 152 000 c. $1 141 500 d. $703 125